Review title work and appraisal documentation to ensure collateral meets guidelines and represents a sound investment.
Issue Mortgage Insurance (MI) approval through delegated authority, ordering Private Mortgage Insurance (PMI) certificates as required.
Review asset documentation to ensure borrower investment and reserve requirements are met per guidelines.
Review all related loan documents to ensure accuracy and completeness, ensuring that documents are consistent and follow company and industry guidelines.
Submit loans to an AUS (i.e. Desktop Underwriter-"DU') to obtain automated underwriting recommendations as applicable.
Perform risk analysis and implements fraud detection techniques to ensure that documents are true and correct and have not been modified or altered.
Provide proactive and timely communication to internal customers and business partners on loan decisions and underwriting guidelines.
Responsible for keeping well informed of products and guideline changes and trends in the mortgage industry.
Underwrite at least 4 files per day, including loans selected for pre-fund review, in addition to review of re-submissions and assisting with questions.
Responsible for underwriting residential mortgage loans to ensure compliance with investor standards, including Fannie Mae, Freddie Mac, FHA and VA. The underwriter focuses on the credit and collateral evaluation to ensure the member's ability to repay the loan.
Major Skills and Competencies
Familiarity with review and understanding of complex income tax documentation.
Knowledge of mortgage product and underwriting guidelines, regulatory requirements and market trends influencing lending.
Maintain a high level of business acumen with the ability to develop strong relationships with internal customers which includes Originators, Processors and industry partners.
Ability to identify and facilitate change in a deadline driven, highly regulated environment.
Competency in basic math skills such as calculating interest and mortgage payments.
Bachelor's Degree in Finance, Business Administration or a related field, or four years of equivalent work experience in the mortgage lending field.
Two years of Mortgage Underwriting experience.
Encompass software experience
We are an equal opportunity employer and make hiring decisions based on merit. Recruitment, hiring, training, and job assignments are made without regard to race, color, national origin, age, ancestry, religion, sex, sexual orientation, gender identity, gender expression, marital status, disability, or any other protected classification. We consider all qualified applicants, including those with criminal histories, in a manner consistent with state and local laws, including the City of Los Angeles' Fair Chance Initiative for Hiring Ordinance.
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